GMG:TSX.V
VANCOUVER, March 28 /PRNewswire/ - Gulfside Minerals
Ltd. ("Gulfside" or the "Company") (TSXV: GMG) reports that the
Private Placement of securities announced on February 28, 2011, of $700,000 non-brokered private placement
consisting of 7,000,000 units at a price of $0.10 per unit (the "financing"), has been
increased. The offering will now consist of up to 3,100,000
flow-through units ("FT Units") which carry one half warrant per
unit exercisable at $0.15 and
5,100,000 non flow-through units ("NFT Units"), with one
whole warrant per share exercisable at $0.15. The warrants are exercisable for a
period of 12 months following the closing. Securities issued
under the private placement will be subject to a four month hold
period.
In connection with the private placement and
subject to regulatory approval, the Company may pay finder's fees
in accordance with the policies of the TSX Venture Exchange.
Gulfside plans to use the proceeds of the
flow-through financing to explore its recently-acquired Northern
Treasure and Bryer gold properties, located about 120 km south of
Atlin, BC. Both claim groups
are on geological trend from the Inlaw/Trapper Lake group (a joint
venture between Ocean Park Ventures Ltd. and Constantine Metal
Resources Ltd.) and 70 km from the Golden Bear mine and mine
access road which was developed by Chevron Minerals of Canada.
The proceeds of the non-flow through portion of
the financing will be used for general working capital and on its
coal interests in Mongolia.
On Behalf of the Board of Directors,
Gulfside Minerals Ltd.
"Robert L. Card"
Robert L. Card
President
"Neither TSX Venture Exchange nor its
Regulation Services Provider (as that term is defined in the
policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release."
SOURCE Gulfside Minerals Ltd.